HealthStream, Inc. has recently released its 10-Q report, providing an insight into its financial performance for the second quarter of 2024. The company, headquartered in Nashville, Tennessee, offers Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States. Its solutions cater to a wide range of needs within the healthcare industry, including clinical development, talent management, training, and scheduling.
In the 10-Q report, HealthStream reported revenues of $71.6 million for the second quarter of 2024, marking a 3.4% increase from $69.2 million in the second quarter of 2023. The operating income for the same period was $4.4 million, up by 10.1% from $4.0 million in the second quarter of 2023. Net income stood at $4.2 million, reflecting a modest 0.8% increase from $4.1 million in the second quarter of 2023. Earnings per share (EPS) for the second quarter of 2024 were reported at $0.14 per share (diluted), up from $0.13 per share (diluted) in the second quarter of 2023. Additionally, the company reported adjusted EBITDA of $15.8 million for the second quarter of 2024, showing a 3.3% increase from $15.3 million in the second quarter of 2023.
The company highlighted that macroeconomic conditions in the U.S. continue to pose challenges, including inflationary conditions, elevated interest rate levels, and uncertain geopolitical conditions, which have impacted both HealthStream and its customers in the healthcare industry. While the impact of the COVID-19 pandemic has lessened, HealthStream remains vigilant and prepared to adapt its operating approaches to address any COVID-19-related developments or other public health-related events.
The report also outlined key financial metrics, including revenues, adjusted EBITDA, capital expenditures, and net income, providing insights into the company's financial performance and management's strategies. HealthStream's management utilizes these metrics to manage its business and believes they offer useful information to investors as indicators of the company's growth and success. The report also discussed critical accounting policies and estimates, emphasizing the importance of these in understanding and evaluating the company's reported financial results.
The 10-Q report provided a detailed comparison of the financial performance for the three months ended June 30, 2024, and June 30, 2023, including changes in revenues, cost of revenues, product development expenses, sales and marketing expenses, general and administrative expenses, depreciation and amortization, other income, net, and income tax provision. This comparison offered a comprehensive view of the company's financial performance and the factors contributing to changes in key financial metrics. As a result of these announcements, the company's shares have moved -1.3% on the market, and are now trading at a price of $28.77. If you want to know more, read the company's complete 10-Q report here.
